How much money are you dropping this holiday season? $100? $250? $1000? (You know, the number that is otherwise known as the national average.)
Last week, I shared my money win that Christmas was already paid for. It feels great to not have to worry about the cost of anything. It’s especially exciting because I used apps and cash back from credit cards to cover the cost.
But you know what? I’m still looking to optimize my shopping. Sure, there are sales and coupons and shopping portals. But the best way I’ve cut back is actually something I never expected to pull off.
I texted a request to my in-laws to please not buy us any gifts.
I know.
I KNOW.
I am such a risk taker, friends!
The text was obviously friendlier. I simply pointed out the fact that they are already so generous with our son that neither my husband nor I needed, wanted, or expected anything. I then mentioned that we could all meet up at their favorite wine bar instead.
Guess who has two thumbs and is making one less trip to the mall this year?
So that’s my big money win for the holiday. Krystel from All She Saves and Amanda have two more wins that are worth celebrating, too. Join us!
Krystel – All She Saves
What is your money win?
I am going into December with all of the money I need to spend on gifts already saved! I estimated how much money I was going to spend on Christmas gifts at the beginning of the year. I then downloaded the savings app Qapital and used their monthly savings tool to withdraw a certain amount each month to go towards my goal. Since my “spending” was spread over 12 months, I don’t feel like I’m in the hole for the month of December because I prepared for my spending ahead of time.
Why are you pumped?
I finally don’t feel broke after buying Christmas gifts! It is so much less stressful knowing I prepared for this spending because at the beginning of the year, I knew I was going to spend money on gifts. And now, I don’t have to adjust other categories in my monthly budget to make up for the money I’m spending on Christmas gifts.
What can others learn from it?
Being prepared pays off! I not only do this with Holiday spending, but I also use this trick to save up for trips or life events that I know are going to happen and that I need to spend money for. Use the tools that are out there and make it work for you!
Penny’s note – Sinking funds are the best! Setting up a few more of them is actually on my to-do list for the next year.
Amanda
[Pssst – Amanda is PF nerd on Twitter! I get so excited when Twitter friends want to be on ze blog!]
What is your money win?
We’ve been saving all year for our holiday spending AND I’m keeping a spreadsheet so we don’t go too overboard with any one person.
Why are you pumped?
I’m pumped because the holidays are usually being paid off in January and February, but this year, we’ve got more than enough to cover it.
What can others learn from it?
Make the plan and rock the plan. It’s painstaking sometimes, but it’s entirely worth it.
Penny’s note – I love this! “Make the plan and rock the plan.” I need that tattooed on my forehead. Or written on a planner at the very least. Amanda totally rocked her plan for the holidays!
Final Thoughts on Holiday Money Wins
With so much hustle and bustle, glitter and gifts, it’s really easy to lose sight of your money come the holiday season. Even if you feel like you haven’t set yourself up for any huge wins like Krystel or Amanda, you can definitely use this holiday season as a lesson for next year.
I’ve kept spreadsheets for gifts for the past four years, and I love it! Not every holiday season is full of huge victories, but I always have an idea of how much I’m going to spend and how much I should save. The added bonus is that I never have to try to remember if I’ve already given someone a gift or not!
Really is there anything that can’t be improved with a spreadsheet? I think not.
Happy Holidays, friends!
So Tell Me…Do you have a holiday money win? Leave a comment or drop me a line here to be featured!
PS – Don’t miss any of the other money wins. The whole series is right here!
woot woot for all the money wins! I definitely didn’t prep for Christmas as well as I could have, and the budget is feeling it. Next year is going to be different!
The only reason I’m in such a good position this year is because I actually started in January! It’s a process!
Woohoo all around! Great thinking with going the no-gifts route. I love that idea! I’ve presented something similar to my fam, but that’s how you’re quickly labeled the Un-fun Frugal Grinch around these parts. I’ll keep trying. 😉
A good win for us: we paid for all Christmas gifts using cashback points. Everything is wrapped and under the tree, we’re under budget, and it feels good!
I love that you have everything wrapped. I have two half-wrapped presents. We did an early Christmas with a relative who will be out-of-state for the holidays, and HP learned to unwrap presents.
Now he thinks he should unwrap all the presents all the time everywhere 😉
Sometimes you cannot buy for everyone! When we were saving for our house my husband and I told our parents we wouldn’t be spending much on Christmas that year. I love the spreadsheet idea, I might try that out!
I honestly think some people are so relieved to hear that you want to scale back. I’m hoping my in-laws aren’t secretly offended!
Mine aren’t anything huge, but I do have a few:
My M-I-L collects a certain pattern of vintage silverware. Instead of buying it from Replacements LTD. (I love them, totally not bashing them here), I’ve been slowly buying various pieces off of ebay all year. It’s much cheaper that way, and we have a really nice gift that I think she’ll really like. I’ve done the same thing with a vintage china pattern she collects.
I signed up for emails from some of the stores my sister’s gifts usually come from (we’re not at all into the same things so there’s zero temptation for me to shop for anything other than her Christmas gifts) so I’ve been able to use various promo codes for discounts, free shipping, etc. throughout the year.
We’re giving our neighbors some gourmet chocolates that they love for Christmas. I compared the individual prices for everything to the gift set I was looking at for them, and discovered that it was $6.00 cheaper to buy the items individually. I always stock up on wrapping paper and gift bags after Christmas, so I’ll be able to wrap it up (much cuter!) for way less than $6.00.
Nothing huge, but every little bit helps.